64 Quotes by Naval Ravikant

One philosophy I have at AngelList is I would rather have someone working on the wrong thing and do it their way and be motivated, than working on the right thing and do it my way and not be motivated.

In an ideal world, you raise a lot of money and then there is a downturn, before you start investing so you get better deals. But it doesn't always happen that way.

We are seeing a lot of cases where the startups are writing the term sheet, dictating the terms, selling common stock instead of preferred stock, where they don't give the investor veto rights or board seat or privileges, and they are really asking the investor -- why should I take your money when there is other money available.

Our model is very, very different to LinkedIn. We only deal with very small companies. We don't have any support for recruiters. In fact, recruiters are not supposed to be on AngelList Talent. It's a direct market where we connect CEOs and the founders and the head of products with their talent directly.

Unlike a normal venture fund, we never stop raising capital. We can always absorb new capital on the platform and into the next deal as long as we feel it won't distort the allocation and the pricing.

If you go to a venture firm, what you're doing is you're buying money from them in exchange for equity. They have a commodity that they're selling and they have to differentiate themselves.

We can code wills, escrows, trusts, notaries, revokable charge backs, proof of contracts, intellectual property enforcement. What Wall Street does can be done in code by Bitcoin.

Cryptocurrencies are an emergent property of the Internet - almost a fifth protocol in the Internet suite. If Satoshi Nakomoto did not exist, it would still be necessary to invent them.

Take a very small amount of money, your throwaway money, treat it as if it's already gone, you've mentally set it on fire, and put it in some distribution of a few truly legit layer 1 blockchains.